Korea to dispatch veterinary medicine trade mission to Chile, Mexico SEOUL, July 11 (AJP) - South Korea is sending a trade delegation to Chile and Mexico next week in a bid to expand exports of veterinary medicines and deepen agricultural ties. The Ministry of Agriculture, Food and Rural Affairs announced it will lead a mission from July 12 to 21 aimed at opening new export channels for South Korean veterinary drugs, including antibiotics and vaccines used in livestock, pet care, and aquaculture. Representatives from the Korea Animal Health Products Association and four major pharmaceutical manufacturers — Green Cross Veterinary Products, Dae Sung Microbiological Labs, Median Diagnostics, and Woogene B&G — will join the delegation. “We will promote the excellence of South Korean veterinary medicines in Latin America and strengthen information exchange and cooperation to expand new export markets,” said Kim Jung-wook, Director-General of the ministry's agricultural innovation policy bureau. The trip comes amid a sharp rise in South Korea’s veterinary pharmaceutical exports, which grew 51 percent year-on-year to $167.2 million in the first five months of 2025, buoyed in part by growing demand in Latin American markets. Chile’s veterinary medicine sector reached $220 million in 2024 and is projected to grow at an annual rate of 8.5 percent through 2034, according to industry data. Mexico, with a market valued at $1.65 billion, is expected to expand at a similar pace, growing 8.4 percent annually through 2030. The delegation is scheduled to hold one-on-one business meetings with 28 local buyers — on July 15 in Santiago and July 17 in Mexico City — in an effort to connect Korean firms directly with regional distributors and importers. In addition to commercial talks, ministry officials will visit regulatory bodies on July 14 and 18 to gain insight into local drug registration systems and veterinary policies. The group will also conduct field visits to veterinary supply chains. 2025-07-11 15:18:20

PHOTOS: Pictorial album of Mount Baekdu's landscapes SEOUL, July 11 (AJP) - North Korea’s Foreign Languages Publishing House released a new pictorial album in June showcasing the natural landscapes of Mount Baekdu and Lake Chon. Mount Baekdu, which stands at 2,744 meters, is the highest peak on the Korean Peninsula. Its summit features Lake Chon, a caldera lake. The lake has a circumference of 14 kilometers, an average depth of 213 meters, and a maximum depth of 384 meters. From mid-October to mid-May, Lake Chon is typically covered in ice and snow. 2025-07-11 14:43:33

North Korea hails historic treaty in bid to mend ties with China SEOUL, July 11 (AJP) - North Korea will continue to strengthen its ties with China, the state-run Rodong Sinmun reported on Friday, as two countries marked the anniversary of a treaty signed decades ago. Coinciding with the 64th anniversary of the treaty signed on July 11, 1961, by North Korean regime founder Kim Il-sung and then-Chinese Premier Zhou Enlai, the daily hailed the treaty for laying the groundwork to strengthen "strategic cooperation" between Pyongyang and Beijing and to protect them from "hostile forces' reckless military adventurism," which it claimed "threatens global peace and security." Like North Korea's recent military pact with Russia signed during Russian President Vladimir Putin's visit to Pyongyang in June last year, the treaty also includes a similar clause pledging both countries to provide each other with immediate military assistance in the event of an armed attack. Friday's news coverage fuels speculation that Pyongyang may be attempting to mend ties with its traditional ally after a recent rift, especially given that state media from both sides remained silent about the anniversary last year. 2025-07-11 14:26:33

KOSPI surges above 3,200 for first time since 2021 SEOUL, July 11 (AJP) - South Korea’s benchmark KOSPI index climbed above the 3,200 level for the first time in nearly four years on Friday, buoyed by a global rally in semiconductor stocks, before paring gains as foreign investors turned net sellers. The index surged as high as 3,216.69 in morning trading, its highest intraday level since September 7, 2021, when it reached 3,201.76. By early afternoon, however, the index had trimmed its advance, standing at 3,186.14 — up 2.98 points, or 0.1 percent, as of 1:48 p.m. The brief breach of the 3,200 threshold continued a recent run of record-setting sessions for the Korean stock market. On Thursday, the KOSPI notched a record close of 3,183.23, underscoring renewed investor optimism, particularly in the semiconductor sector. The gains followed an overnight rally in U.S. equities, even as trade tensions flared between Washington and Brasil. President Donald Trump threatened to impose 50 percent tariffs on Brazilian imports beginning August 1, prompting reciprocal warnings from the Brazilian government. Still, investor sentiment remained buoyant, helped by chipmaker Nvidia, whose shares rose 0.75 percent for a third straight session. The company’s market capitalization surpassed $4 trillion on a closing basis for the first time, reinforcing bullish expectations for semiconductor demand. Further fueling optimism was TSMC's record second-quarter revenue, powered by soaring demand for artificial intelligence applications. 2025-07-11 14:03:11

Korean exporters brace for weaker second half as tariff uncertainty looms SEOUL, July 11 (AJP) - South Korea’s export momentum is expected to falter in the second half of 2025, weighed down by rising uncertainty over U.S. trade policy and softening global demand, according to a new industry survey. The Federation of Korean Industries (FKI), in partnership with research firm Mono Research, surveyed 150 companies among Korea’s top 1,000 exporters across ten key sectors. The findings paint a cautious picture: overall export volume is projected to decline by 1.6 percent year-over-year, reversing gains seen earlier in the year. The export outlook varies sharply by industry. Bio-health products are expected to lead the few gainers, with shipments projected to rise 1.6 percent, followed by electronic components (1.3 percent), automotive parts (0.8 percent), and computers (0.4 percent). In contrast, steel exports are forecast to fall 5.0 percent, shipbuilding by 2.5 percent, and both petrochemicals and general machinery by 2.2 percent. Automobile and semiconductor exports are also expected to contract, though more modestly. The most pressing concern among exporters is the potential for escalating U.S. tariffs. More than half of respondents identified American trade policy as the top risk to their businesses, ahead of broader worries about a global economic slowdown and the intensifying U.S.–China rivalry. Industry anxiety has grown since Washington announced on July 7 that new retaliatory tariffs — reaching as high as 25 percent — could take effect on August 1. If implemented, they would pose a severe burden for Korean exporters, the survey found. A full 92 percent of respondents said their businesses would struggle to absorb tariffs above 15 percent. Notably, 42 percent indicated that even a single-digit increase would be difficult to manage. In response, companies are exploring a range of mitigation strategies. About one-third said they plan to reduce costs, while a similar share are preparing to adjust export prices. Roughly 15 percent are considering shifting production overseas. Still, 14.2 percent of firms acknowledged having no concrete plan in place. Profit margins are expected to remain under pressure. Nearly 39 percent of companies forecast deteriorating profitability in the second half of 2025, citing rising tariff-related costs (44.8 percent), tougher price competition (34.5 percent), and increasing labor and operational expenses (13.8 percent). Only 14 percent expect an improvement. Sectors such as auto parts, automobiles, general machinery, petrochemicals, and steel were more likely to report projected margin declines. Only the semiconductor and shipbuilding industries had more companies forecasting improved profitability than those expecting deterioration. To bolster resilience, exporters are urging the government to prioritize trade pacts aimed at reducing tariff exposure and to expand financial support. Policy recommendations include enhanced corporate tax incentives, investment credits, and initiatives to help firms access new export markets. “With U.S. tariff policy and sluggish global growth likely to persist, cost-cutting alone is not a sustainable strategy,” said Lee Sang-ho, head of economic and industrial policy at FKI. “What’s needed are trade agreements that reflect Korea’s strengths, regional diversification of exports, and broader institutional support to secure long-term competitiveness.” 2025-07-11 13:57:48

Samsung to launch XR headset this year, targeting Apple, Meta SEOUL, July 11 (AJP) - Samsung Electronics plans to introduce its first extended reality headset later this year, positioning the device as a premium rival to Apple’s Vision Pro and Meta’s Quest lineup. The device, developed under the code name Project Moohan, marks Samsung's most ambitious move yet into immersive computing. The project is a collaboration with Google and Qualcomm, uniting three of the world’s largest tech companies as they seek to carve out space in a market still searching for mass appeal. Roh Tae-moon, president of Samsung’s mobile division, confirmed the launch timeline during a recent press briefing in New York. “We are working to enhance the completeness of XR headset Project Moohan with the goal of launching within this year,” Roh said. Under the partnership, Google is responsible for the operating system and multimodal artificial intelligence capabilities, Qualcomm is providing the chipset, and Samsung is leading the hardware development and manufacturing. Project Moohan will be Samsung’s first Android-based XR headset, following a developer preview of Google’s software last December and a media showcase during the company’s Galaxy Unpacked event in January. Industry observers expect the headset to integrate with Samsung’s Galaxy Watch and the newly launched Galaxy Ring, offering gesture controls and wearable syncing that may improve ease of use compared to rival products. Apple’s Vision Pro, despite its technological sophistication, has faced criticism over its $3,499 price tag and limited software library. Meta’s Quest headsets, while more affordable, have struggled with a fragmented app ecosystem and uneven consumer adoption. Samsung is aiming for a middle ground — banking on its vast device ecosystem and Android app compatibility to differentiate its offering. Though Samsung has not announced a firm launch date, analysts expect the headset could be unveiled as early as September. Much will hinge on pricing and content availability, areas where competitors have stumbled. In addition to its XR ambitions, Samsung is expanding its Galaxy AI platform to 400 million devices this year, up from 200 million in 2024. The company reiterated its pledge to offer core AI services, such as real-time translation, free of charge — even on budget models. Roh said Samsung will maintain free access to basic features beyond 2025, while hinting that more advanced capabilities could eventually be paywalled through subscription plans. 2025-07-11 13:51:00

Daboseong Gallery unveils additional imperial and aristocratic treasures from China SEOUL, July 11 (AJP) - During the expert appraisal event held on July 8 (Tuesday) and 9 at Daboseong Gallery in Gyeonun-dong, Jongno-gu, Seoul, a new selection of previously unpublished Chinese relics believed to have been used by members of the imperial family or aristocracy was unveiled. ◆ Ru ware celadon-glazed vase with gilt-rimmed mouth from the Northern Song Dynasty (北宋汝窑天青釉金口纸槌瓶) This Ru ware celadon-glazed vase from the Northern Song period (960 to 1127) is one of the few surviving examples from Ru kilns, one of the five great kilns of the era. With its narrow, elongated neck, angular shoulders, and flat base, the vase resembles the shape of a paper mallet. Hence the name "paper mallet vase" (zhichui ping). The mouth is accented with a layer of gilt. Its refined form and gilded rim suggest it was used by members of the royal family or aristocracy. The entire surface is coated in a sky-blue celadon glaze (tianqingyou), creating a soft, luminous tone with rich depth. Delicate crackle patterns, or crazing, naturally formed on the surface. Ru ware was produced exclusively by imperial order during the reign of Emperor Huizong. It is extremely rare, making it a highly valued artifact. ◆ Lidded jar with blue-and-white underglaze red cloud and dragon chasing pearl motif from the late Yuan to early Ming period (元末明初 青花釉里红云龙戏珠纹有盖壶) This lidded jar features a dynamic image of a three-clawed dragon flying through auspicious clouds, chasing a flaming pearl surrounded by fiery waves. The sides of the lid are adorned with plum blossom branches. The top is fitted with a bold animal-shaped handle. A rod-like decorative element appears to pierce through the lid, and three loops attached to the shoulder allow the lid to be secured. These features add to the vessel’s uniqueness. The jar’s rare lid shape, elaborate adornments, harmonious proportions, and majestic dragon motif suggest it was likely used by emperors or aristocrats. ◆ Ru ware covered tea or wine cup with lotus-shaped saucer from the Northern Song Dynasty (北宋汝窑盖盏及花形托) This artifact consists of a lidded cup and lotus-petal-shaped saucer, produced at the Ru kilns during the Northern Song period. Believed to have been used for tea or wine offerings, it displays the classic elegance of Ru ware. It has refined proportions, soft celadon glaze, and fine surface crazing. The exterior is covered in a light bluish-green glaze, with naturally formed crackles spreading across the surface. This creates a tranquil beauty and sense of depth. The faintly glowing glaze reveals the finely prepared clay body beneath, showcasing Ru ware’s high-temperature firing technique and purified material quality. As a rare complete set reflecting royal taste, this piece is thought to have served as a funerary item for imperial or noble families. ◆ Blue-and-white incense burner in the shape of a deer with iron-painted details from the Ming Xuande period (明宣德青花铁绘鹿形香炉) This deer-shaped porcelain incense burner was produced during the Xuande reign of the Ming Dynasty (1426 to 1435). It demonstrates the harmony of blue-and-white and iron-painted decoration. A small lidded opening with a handle is set on the deer’s back, allowing incense to be placed inside. When in use, the smoke emerges from the deer’s nose, mouth, and back. This enhances both the practical function of the incense burner and its sculptural form. Notably, this piece has been preserved in its entirety. It is believed to have been used as a funerary item for royalty or aristocracy. In Chinese culture, the word for deer (lu) is a homonym for lu, meaning official salary or emolument. It symbolizes wealth and high status. When paired with depictions of immortals or the elixir of life, the deer also becomes a symbol of longevity. ◆ Ding ware bowl with lotus petal rim and molded frog and lotus motif from the Northern Song Dynasty (北宋定窑贴花荷叶口大碗) This large bowl from the Ding kilns of the Northern Song Dynasty is a fine example of high-quality white porcelain. Its striking shape and intricate molded decorations immediately attract attention. The bowl’s rim is formed in the wavy mouth (boshuangkou) style, a classic Chinese ceramic form with evenly spaced undulating curves. The most notable feature is the interior decoration at the bottom. It includes two frogs and a lotus blossom. In Chinese symbolism, the lotus stands for purity and the frog represents fertility. These motifs reflect the aesthetic preferences of Song-era aristocrats. This bowl exemplifies the elegance of Song white porcelain. With its rare wave-shaped mouth and depiction of a lotus pond scene inside, it is considered a unique court or noble artifact. No comparable examples have been discovered to date. 2025-07-11 10:42:52

Record early heat wave leads to surge in heat-related illnesses SEOUL, July 11 (AJP) - As a record-breaking early heat wave continues to grip the country, more than 1,300 cases of heat-related illnesses including nine deaths have been reported so far this summer, prompting health authorities to urge vulnerable people to take extra care on Friday. According to the Korea Disease Control and Prevention Agency (KDCA), some 1,357 people have been taken to emergency rooms nationwide with heatstroke, dehydration, or exhaustion since mid-May, a sharp increase from fewer than 500 cases during the same period last year. The KDCA urged people to avoid outdoor activities during peak daytime hours, rest whenever they feel fatigued, and stay hydrated, adding that most of the victims were elderly farmers who suffered heatstroke while working in the fields amid scorching heat. The number of such cases hovered above 100 every day this week and soared to 254 on Tuesday alone, as temperatures in Seoul climbed above 37 degrees Celsius, the hottest for early July in the capital since relevant records began in 1907, breaking the previous record of 36.8 degrees set in 1939. With the end of 12 consecutive days of tropical nights in some parts of Seoul and the surrounding areas, when the mercury did not fall below 25 degrees Celsius, many people finally woke up from a sound sleep. But the unrelenting heat is forecast to persist through this weekend, with Seoul's daytime high reaching 36 degrees, before mid-week showers across most parts of the country next week bring some respite, according to the Korea Meteorological Administration (KMA). Meanwhile, it is expected to become mandatory for workers to be guaranteed a break of at least 20 minutes within every two hours during periods of severe heat waves. The Ministry of Employment and Labor is set to review a proposal on Friday afternoon to revise relevant rules, which include a clause mandating such breaks when the perceived temperature reaches 33 degrees or higher, to ensure workers' safety. 2025-07-11 10:11:19

Hyundai Motor unveils high-performance EV, Ioniq 6 N SEOUL, July 11 (AJP) - Hyundai Motor has debuted its latest high-performance electric vehicle, the Ioniq 6 N, at the Goodwood Festival of Speed in southern England, marking the brand’s second entry into its performance-focused N electric vehicle lineup. Following last year’s launch of the Ioniq 5 N, the new model builds on Hyundai’s ambition to fuse electric powertrains with track-ready performance. The Ioniq 6 N features a dual-motor setup, enabling it to sprint from zero to 100 kilometers per hour in 3.2 seconds. Its top speed is rated at 257 km/h. “Ioniq 6 N combines formidable power, sophisticated battery management, aerodynamic mastery and advanced suspension systems to deliver a compelling blend of speed, stability and comfort,” said Manfred Harrer, executive vice president and head of vehicle development tech at Hyundai Motor. To sustain high-performance driving, Hyundai has equipped the vehicle with an enhanced thermal management system called N Battery, designed to reduce preconditioning time and maintain battery efficiency under stress. Exterior aerodynamic upgrades — most notably a swan-neck rear wing and flared fenders — are aimed at boosting downforce and improving stability at speed. Beneath the surface, Hyundai engineers have reconfigured the suspension geometry and added stroke-sensing electronically controlled dampers, which adapt to various driving scenarios — from everyday commutes to aggressive cornering on racetracks. The company plans to exhibit the Ioniq 6 N for the first time in South Korea at the Lotte Premium Outlet in Uiwang, Gyeonggi Province, from July 13 to 20. A commercial launch is scheduled for the fourth quarter of 2025, with pricing to be announced at a later date. 2025-07-11 10:09:57

Lee Jae Myung leans on local currency legacy in push for grassroots recovery SEOUL, July 10 (AJP) - After polishing off two hearty portions of Korean-style barbecue, Kim Eun-hee reached for her go-to payment method: a slim, peach-colored card labeled “Hwaseong Special City.” The 52-year-old social worker swiped it with ease, as she does nearly everywhere she shops, commutes, and eats. “I get 10 percent back every time I charge it,” Kim said, sipping an americano from a seniors’ cafe where a cup costs just 1,100 won, or about 81 cents. “It’s accepted at my office cafeteria, the supermarket down the road — pretty much anywhere I need to go in a day.” The card Kim carries is a version of a growing number of prepaid regional vouchers, issued by municipalities across South Korea. While use is limited to designated local businesses — typically mom-and-pop shops with annual revenues under 3 billion won — the incentive is simple: small discounts for consumers, and a boost in foot traffic for local merchants. Now, what began as a grassroots policy experiment has become a centerpiece of the Lee Jae Myung administration’s stimulus strategy. On July 3, President Lee stood before a crowd at Cheong Wa Dae, the former presidential compound in Seoul, pledging that the government’s prepaid voucher program would help “reignite domestic demand” and offer a financial lifeline to small businesses battered by slow growth. The scale of the initiative is significant. A second supplementary budget passed by the National Assembly just a day later earmarked more than 12 trillion won ($8.7 billion) for the distribution of vouchers — roughly 40 percent of the entire 32 trillion won package. The rollout will begin July 21, with benefits structured across income brackets. The administration is banking on a familiar formula. As mayor of Seongnam City, Lee launched a similar local voucher system in 2016, handing out vouchers to residents in a bid to strengthen local commerce. A subsequent report by the Bank of Korea found that Incheon’s consumption rose by 3.6 percent between May and December 2019 after voucher adoption, compared with just 0.1 percent in the months before. The bank concluded the program “positively contributed to stimulating local consumption.” Still, Lee acknowledged that outcomes remain uncertain. “While we can estimate the effects, nothing is guaranteed,” he said. “We made this decision after taking into account the fiscal outlook, debt, and broader economic conditions.” Experts, too, are divided. The Korea Development Institute, a state-run think tank, said in its July economic outlook that the second budget could help stabilize economic momentum, unlike the first, which was narrowly targeted. “Since e-commerce has become the norm, voucher injections can definitely support brick-and-mortar stores,” said Lee Eun-hee, a professor emeritus of consumer science at Inha University. A recent survey by Korea Credit Data found that more than half of small business owners — 53 percent — had “very high expectations” for the policy. But there are caveats. “Older people often struggle to understand how to use these vouchers,” Professor Lee said. “And crucially, local governments must fund 10 to 15 percent of the total issuance themselves.” The financial burden has prompted concern in some cities. On June 24, Daejeon Mayor Lee Jang-woo called on the central government to assume responsibility. “While local vouchers help restore livelihoods, if this is a government-led policy, the government should foot the bill,” he said. Some critics argue the policy is a short-term fix. “These are like IV drips — useful in a crisis, but not a cure,” Professor Lee said. She advocated instead for investment in long-term infrastructure like regional tourism and marketplaces that naturally drive spending. Others take a more skeptical view. Cho Dong-geun, a professor emeritus of economics at Myongji University, said the government should consider tying vouchers to specific uses like food purchases, rather than geographic restrictions. “If President Lee wants to support people, he should look at why countries like the United States are cautious about adopting local vouchers,” Cho said, referencing programs like SNAP, the U.S. food assistance initiative. A 2020 study by the Korea Institute of Public Finance also warned of inefficiencies, noting that while local currencies provide “various economic benefits,” they can also generate “multiple expenses and structural waste.” Back in Hwaseong, Kim Eun-hee isn’t concerned with macroeconomics. To her, the city voucher is simply convenient — and valuable. “I used to carry three cards: one for work, one for home, one for discounts,” she said. “Now, I just use this one.” For President Lee, however, the stakes are far greater. As South Korea’s economy flirts with stagnation, his government is betting big on the belief that small purchases — made locally and with plastic — can fuel a national rebound. Whether that bet pays off may determine the political and economic shape of his presidency. 2025-07-11 09:59:04